KOGER deploys fund administration platform to the cloud

By Danielle Kane from Fund Operations
Published on April 13, 2017

Clients will now have the option to use cloud technology

KOGER®, a financial services technology firm, has launched its NTAS® fund administration platform to the cloud. The system, which manages fund tracking, reporting and fee calculation, can now be used by smaller fund companies that do not have the resources or infrastructure to build out these systems internally, according to Wasseem Ghorayeb, VP of the operations at KOGER®.

“It’s very cost efficient as opposed to buying the hardware themselves,” Ghorayeb said on why fund companies will find it appealing. “They also don’t have to worry about the technology going out of date because that’s updated for them regularly on the cloud. So, it provides day-to-day saving, and ease of use.”

By using the cloud, fund companies can spend less of their budget investing in technology where servers need to be updated every 3-5 years to keep pace with the next generation of core processors. Instead, the infrastructure is provided on the cloud and the costs are passed on the vendor.

The NTAS® platform is already used by variety of fund companies and fund administrators, including mutual funds, pension funds and private funds. More than $2tn in assets are administered through NTAS®.

Ghorayeb noted that for mutual funds, most firms use NTAS® to straight through processing capability that automates and integrates the necessary information into digestible, ready-to-view notifications. NTAS® handles daily transfer agency recordkeeping, investor registration, cash management, trade processing, reporting and fee processing and supports compliance functions.

“We’ve built out a regulatory products within this platform called KURE,” Ghorayeb said. “It’s another module that can be turned on and off within the systems as the user sees fit. It can be used form risk-based compliance, KYC regulations, AML regulations and anti-tax evasion laws.”

For fund companies already using NTAS®, they will have the option to move the services to the cloud, but Ghorayeb emphasized that KOGER will not automatically push clients onto the cloud. “The key message is that we did this as a means of serving more of the market,” he said. “We wanted to open it up to smaller funds and administrators to let them use the platform, too.”

Fund Intelligence